A blessing in disguise<\/p>\n
The monetary crisis has indeed sent out shivers of gloom and
\ndoom especially for this year. And to say that it is a blessing
\nin disguise could seem completely out of place.<\/p>\n
But, if you think about it, how else could major momentous
\nchange happen in a given situation unless not just one person is
\nhurt, but everybody all the way from the very top down to the man
\nin the street is affected.<\/p>\n
After all is said and done, Indonesia will never be the same
\nagain in many ways. As for the commercial sector, it will never
\nbe run again the way it was in the past.<\/p>\n
Many traditional concepts such as "Land prices never fall in
\nIndonesia" and "Property is a good hedge against inflation" are
\namong many the ideas that have been debunked by the turmoil.<\/p>\n
To start with, developers -- who are by far the hardest hit --
\nwill be that much stronger if they can weather this crisis, and
\nit will undoubtedly change the way they do business thereafter.
\nThe excesses of the market place will be reversed.<\/p>\n
The working classes, who used to resign at a whim, will
\ndiscover to their chagrin that they will have to learn how to
\nhold a job down.<\/p>\n
It is a small, but necessary step toward cultivating work
\ndiscipline.<\/p>\n
Wages will be readjusted in line with productivity, the former
\nhad outstripped the latter in the rising market when the labor
\nmarket was tight.<\/p>\n
The banking fraternity through weeding out, consolidation,
\nmergers and acquisitions will find that they are none the wiser
\nat being the "Jack of all trades and master of none".<\/p>\n
There will be a reemphasis on the local currency as the only
\nmeans of exchange and it will therefore follow that fiscal and
\nmonetary policies will be instituted in tandem to support the
\nrupiah.<\/p>\n
Last but not least, real estate, among other things, will
\nbecome more competitive and quality property will be
\nrealistically priced.<\/p>\n
All these things will certainly work out for the good of
\nIndonesia as a whole.<\/p>\n
S.K. TAN<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/a-blessing-in-disguise-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }